Bayesian Analysis of Demand Under Block Rate Pricing (1st ed. 2019) (SpringerBriefs in Statistics)

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Synopsis
This book focuses on the structural analysis of demand under block rate pricing, a type of nonlinear pricing used mainly in public utility services. In this price system, consumers are presented with several unit prices, which makes a naive analysis biased. However, the response to the price schedule is often of interest in economics and plays an important role in policymaking. To address this issue, the book adopts a structural approach, referred to as the discrete/continuous choice approach in the literature, to develop corresponding statistical models for analysis.The resulting models are extensions of the Tobit model, a well-known statistical model in econometrics, and their hierarchical structure fits well in Bayesian methodology. Thus, the book takes the Bayesian approach and develops the Markov chain Monte Carlo method to conduct statistical inferences. The methodology derived is then applied to real-world datasets, microdata collected in Tokyo and the neighboring Chiba Prefecture, as a useful empirical analysis for prediction as well as policymaking.
Copyright:
2019

Book Details

Book Quality:
Publisher Quality
ISBN-13:
9789811518577
Related ISBNs:
9789811518560
Publisher:
Springer Singapore, Singapore
Date of Addition:
Copyrighted By:
Springer
Adult content:
No
Language:
English
Has Image Descriptions:
No
Categories:
Nonfiction, Science, Business and Finance, Mathematics and Statistics
Submitted By:
Bookshare Staff
Usage Restrictions:
This is a copyrighted book.

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